A Question of Money

Each week Diana Wright sorts out readers' financial problems

PN writes: We recently applied for a further advance against a buy-to-let property that we have mortgaged with Woolwich. On making initial inquiries we were told of a product that tracks Bank rate, and opted for this, paying a £150 valuation fee and £520 application charge. A few weeks later we received a letter turning us down because our tenant is on benefits. We accepted this, and were quite prepared to pay the valuation fee, but find it hard to accept that the £520 charge is also non-refundable. Given that we could never have qualified for this product, it seems unjust, but our complaints have got us nowhere.

You spoke too soon, because by the time I got in touch, Woolwich, owned by Barclays, had retracted its initial refusal to reimburse you. You now have the money. But it serves as a